Eagle Bulk Shipping Inc. secured court approval Thursday of a prepackaged Chapter 11 plan that will put lenders in control of the company and erase $975 million in debt from its balance sheet.
The Federal Reserve said Thursday that it had taken enforcement action against Santander Holdings USA Inc., requiring the company to exercise stricter controls on capital distributions after a subsidiary issued an unauthorized $52 million dividend.
Apple Inc. said Wednesday that the encryption and passcode settings on its new iOS 8 operating system will prevent it from unlocking customers’ iPhones in response to court orders, even if law enforcement presents it with search warrants.
U.S. Attorney General Eric Holder’s proposal Wednesday to raise the cap on rewards for certain financial industry whistleblowers and make a renewed effort to pursue criminal financial fraud cases should give bank executives pause as they consider the prospect of prosecutors knocking on their doors, attorneys say.
Auxilium Pharmaceuticals Inc. has swallowed a poison pill the day after receiving a $2.2 billion unsolicited takeover offer from pharmaceutical company Endo International PLC, rebuffing the deal on Wednesday as it pursues a merger with Canadian eye-drug maker QLT Inc.
Family Dollar Stores Inc. on Wednesday spurned a sweetened $9.1 billion tender offer from rival Dollar General Corp., telling its shareholders the deal proposal was “meaningless” because it wouldn't clear an antitrust review.